Marks and Spencer Group (OTCMKTS:MAKSY) Shares Down 1.7% - Here's What Happened

Key Points

• Marks and Spencer Group's share price dropped by 1.7% to a last traded price of $8.77, with trading volume decreasing significantly to 77,426 shares.
• Peel Hunt downgraded the company from a "strong-buy" to a "hold" rating, suggesting caution among analysts.
• The company announced an increased dividend of $0.0698 per share, demonstrating a positive change from the previous dividend of $0.03 and a substantial dividend yield of 91.0%.

Marks and Spencer Group PLC (OTCMKTS:MAKSY - Get Free Report)'s stock price traded down 1.7% during mid-day trading on Thursday . The stock traded as low as $8.75 and last traded at $8.77. 77,426 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 483,146 shares. The stock had previously closed at $8.92.

Analyst Ratings Changes

Separately, Peel Hunt cut shares of Marks and Spencer Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Marks and Spencer Group Trading Up 2.9%

The stock's 50 day moving average is $9.58 and its two-hundred day moving average is $9.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.56.

Marks and Spencer Group Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 3rd were given a $0.0698 dividend. This represents a dividend yield of 91.0%. This is a positive change from Marks and Spencer Group's previous dividend of $0.03. The ex-dividend date was Monday, June 2nd.

About Marks and Spencer Group

Marks and Spencer Group plc operates various retail stores. It operates through five segments: UK Clothing & Home, UK Food, International, Ocado, and All Other. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and Food on the Move' products.